PLDT Profit Surges
On Cellphone Demand

By

Cris Larano Dow Jones Newswires

Updated Aug. 3, 2004 2:01 p.m. ET

MANILA, Philippines -- Philippine Long Distance Telephone Co. posted its highest quarterly net profit for the second quarter as demand for its cellular service remained brisk and the elections boosted spending.

But company executives said earnings would moderate in the coming quarters to mimic first-quarter results.